Air Lease chairman says progress payments to Airbus, Boeing under scanner

(Reuters) – Air Lease Corp’s chairman said on Thursday the lessor will examine progress payments that the company makes to Boeing Co and Airbus SE, as deliveries of aircraft get delayed due to labor and engine shortages.

“Now that we’re experiencing these sustained delays from both Boeing and Airbus, we’re going to look at that very carefully,” Chairman Steven Udvar-Hazy said during an investor call.

Both Boeing and Airbus did not immediately respond to requests for comment.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Devika Syamnath)